The US dollar gives back a small portion of gains after wage numbers
The US dollar broke out against the euro and yen today, amongst others. But those moves retreated after a disappointing reading on average weekly earnings in the CPI report.
US wages rose just 0.5% compared to last year. That's far from the type of increase that will prompt the Fed to worry about inflation and force them into more aggressive rate hikes.
USD/JPY was trading at 118.10 ahead of the data and slid to 117.70 afterwards. It's still up 275 pips since the FOMC decision yesterday.
Elsewhere the retracements have been smaller but they provide an opportunity for the US dollar sellers to get a toe-hold.